This paper investigates the interannual wave climate variability in the Yellow Sea (YS) using the Simulating Waves Nearshore (SWAN) wave model. Interannual variations of both the monthly mean and extreme wave conditions are weaker than their seasonal counterparts. Meanwhile, both exhibit significant seasonal variations. The interannual variability of the seasonal mean wave condition is strongest in winter and weakest in summer. It basically decreases both northward and shoreward in all four seasons. However, the longitudinal position of the maximum variability shifts zonally with seasons. On the other hand, the interannual variability of the seasonal extreme wave condition is strongest roughly in fall, but weakest in winter in most regions of the YS except in the southeastern YS, where the largest variability appears in summer. As for the spatial distribution, the largest variability occurs in the middle YS in spring, while in the southeastern YS in other three seasons. Both of them are dominantly controlled by the local sea surface wind forcing with possibly minor contributions from the western Pacific Ocean. The climate variability modes possibly at work are also discussed.